Biden Announces 100% Tax Imposition on Chinese EVs

The US president, Joe Biden, wants more American cars and trucks to run on electricity. His management has strived to achieve that goal on multiple fronts with new auto emission regulations and lavish new subsidies. These subsidies will allow Americans to get up to $75,000 in discounts on new electric vehicles. 

According to President Biden’s aides, electric vehicles sold for more than $53,000 in the US would sell even faster if they were less expensive. Meanwhile, new EVs are coming, which Americans can purchase at lower costs. These vehicles are very popular in Europe. 

However, President Biden and his team don’t want Americans to purchase these cheap cars made in China for as little as $10,000. This wave of low-cost imported electric vehicles can help drive down overall car prices, aiding the US president in his re-election campaign when voter’s top concern is the country’s economy. As a result, President Biden is making Chinese EVs expensive to protect American automakers. At the beginning of this month, he signed an agreement that quadrupled taxes on Chinese vehicles to 100%.

These taxes will significantly affect the prices of Chinese vehicles made in America. However, some models, like the BYD Seagull, can cost less than American cars even after the tax. Because of this, the senior United States senator, Sherrod Brown, and some other Democrats requested President Biden ban Chinese EV imports. 

Joe Biden and his team don’t want Americans to purchase Chinese EVs and are putting a 100% tax on them. Some politicians, environmentalists, and liberal economists have admired Biden’s decision. According to environmentalists, low-emission technologies will help fight climate change. 

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